The list lengthens as President Trump reiterated his intent for India to join the likes of Canada and Mexico, with plans to raise US tariffs by 2 April. India has traditionally been more of a closed economy and maintained tariff rates above global norms, imposing a mean average 14.36% rate in 2022 — much higher than the average tariff imposed by the US of 2.7%. Mr Trump aims to address this imbalance. Refresh this chart in your browser | Edit the chart in Datastream India is forecast, by the IMF, to become the world’s third largest economy by 2028 (when measured at

Economists will often borrow theories and techniques, devised by other disciplines, to better advance their understanding of the world. One clear example of this is the so-called ‘gravity model of trade’. As physicists will tell you, Newton’s law of universal gravitation states that the gravitational pull exerted between two objects is proportional to the mass of each object, and it is inversely proportional to the distance between them. In turns out that something similar is true regarding the flow of global trade — the larger two economies are, and the shorter the distance between them, the more they tend to